Land developing education

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I generally work in rentals, but my father has some land that I want to help him develop. It about 5 acres on a lake with a road running through the middle of the land. It has a small house hooked up to utilities on it that would need to be demolished. It is in the middle of suburbia. 

Would it be better to just subdivide it and sell the lots? I looked at the subdividing requirements, and it would split into 4 lots nicely. I would partner with a  developer if I was to develop it, but how do I learn enough to know if the developer is good? How do I know what the deal should look like?

What resources should I research?

Thank you!

The simplest thing may be to just subdivide and list them with a local broker. Getting into a "partnership" with a developer or builder that you don't have a relationship with can be a risky thing. Better to have a good clean exit strategy even if you are leaving some money on the table by not developing the whole property yourself. This is the quick exit strategy. 

If you have the itch and appetite for development then maybe you go the route of developing it yourself and finding a good civil engineer and custom home builder. You get a piece of each lot / house sold. This is the longer game where you don't get paid until the end. 

Just some quick ideas. Find who the local civil engineering firms are and ask them who the builders / developers are in the area.